Kids' Swapit Web money revived
Online currencies not entirely dead in water
Posted in e-Business, 17th August 2001 15:42 GMT
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While Beenz officially died yesterday, today, an online currency - the Swapit - has been revived. Webswappers bought its rival Web site SwapitShop from Granada Media for an undisclosed cash sum.
Granada Media shut the site down in June over money (what else?) and Webswappers was just one of several interested parties in SwapitShop apparently. When functioning, SwapitShop was getting 10 million page impressions a month. It also has 200,000 registered users - although they will all have to re-register before using their old accounts again.
The site is aimed at kids and basically consists of people swapping stuff in the age-old tradition of those too young to have been corrupted by capitalism. Swapits are used in lieu of money, making it easier for children to do deals.
Both the SwapitShop and Webswappers have had extensive media coverage and boast big name backers and partners. Webswappers is keeping the Swapit currency alive and will be extending it to its own site.
A note of the SwapitShop site says techies are working round the clock and it should be back up in a few weeks. ®
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